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An Uncertain Future For Medicare and Medicaid

From Politico:

The Obama administration could be faced with obligations to spend cash it  doesn’t have.

By J. LESTER FEDER| 7/21/11 10:47 PM EDT

A default scenario is so unthinkable that not too many people have thought about what happens to Medicare and Medicaid if a deal isn’t reached.

One longtime Washington health hand said he had not contemplated the overall picture of what happens after Aug. 2 without a deal because, “I think it’s unlikely, but it’s also kind of [too] horrible” to think about.

But people are getting nervous enough that it’s time to give the issue real thought, said Julius Hobson, former congressional affairs director for the American Medical Association.

“I think up until last week people were buying into that usual, conventional wisdom that they’d get that grand deal, and now they’re being disabused of that notion,” he said.

So what does happen? Does Medicare keep making payments? If Social Security checks continue to go out, will Medicare premiums be withheld? Will states get their Medicaid dollars? Continue reading

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